Atomo Diagnostics Secures $1.53M Boost with Share Plan and Placement

Capital Raising Completed

Atomo Diagnostics Limited (ASX – AT1) has successfully closed its Share Purchase Plan (SPP), raising approximately $272,388 from existing shareholders, including participation from company directors. The SPP allowed eligible Australian shareholders to subscribe for shares at 1.85 cents each, with a maximum investment cap of $30,000 per shareholder. In addition to the shares, participants received free attaching options exercisable at 4 cents, valid until June 2028.

Despite the solid uptake, the company noted a shortfall of $727,612.50 under the SPP, which it reserves the right to place in the future. This flexibility could provide Atomo with an additional capital injection if market conditions prove favourable.

Shareholder Approval for Placement

Complementing the SPP, Atomo secured shareholder approval at its extraordinary general meeting held on June 23, 2025, to proceed with the Tranche 2 Placement. This placement will raise $1,257,800 by issuing nearly 68 million shares at the same price of 1.85 cents per share, alongside an equal number of free attaching options. The placement targets professional, sophisticated, and exempt investors, including a director, further diversifying the shareholder base.

The newly issued shares will rank equally with existing shares, ensuring no dilution of voting rights or dividend entitlements for current shareholders. The simultaneous issuance of options adds potential upside for investors if the company’s share price appreciates above the exercise price in the coming years.

Strategic Implications

Managing Director and Interim Chair John Kelly expressed gratitude to shareholders for their support, highlighting that the completed capital raising initiatives have refreshed the board and strengthened the company’s financial position. This improved capital base is expected to underpin Atomo’s operational activities as it continues to develop and commercialise its rapid diagnostic test devices globally.

Atomo’s patented rapid diagnostic technology addresses critical healthcare needs, including infectious diseases such as HIV and syphilis, viral versus bacterial differentiation, and early pregnancy detection. The company’s ability to secure funding reflects investor confidence in its growth prospects and the expanding market for point-of-care diagnostics.

While the announcement does not detail the specific allocation of the raised funds, the combined $1.53 million injection provides Atomo with greater flexibility to advance product development, expand market reach, and potentially explore new partnerships or innovations in the diagnostic space.